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Earlier this year, GameStop was reporting plummeting share prices and a
weaker-than-expected financial forecast. Today, the company
says it is experiencing a sales surge thanks to demand for new
gaming consoles.

Given ravenous customer demand for the Microsoft Xbox One and
Sony PlayStation 4 consoles, GameStop reported a soaring 25
percent sales increase in its second quarter -- news of which
uplifted shares by roughly 6 percent this morning.

Hardware sales grew 124.8 percent, next to software sales growth
of 15.6 percent, the company said. Consumers clamored for new
titles like Ubisoft’s Watch Dogs and Nintendo’s
Mario Kart 8.

While GameStop has faltered in past quarters ahead of new console
releases, when consumers typically shy away from purchasing
games, “the second quarter demonstrates the power of the new
console cycle,” said GameStop CFO Rob Lloyd in a statement.

GameStop is foreshadowing additional growth through the rest of
the year. Company president Tony Bartel said that the 24 major
games slated to be released for the holiday season represents
“ the best lineup in history.”

Other factors contributing to a doubling of the company’s net
earnings over last year’s second quarter include 5.5 percent
growth in its most lucrative category, pre-owned and value video
game products. GameStop also reported 85.1 percent growth in the
mobile and consumer electronics category.